Gold prices finished Wednesday down ahead of the U.S. Federal Reserve rate decision and moved lower after the release of the Fed\u2019s policy statement amid a brief rise for the U.S. Dollar (USD).<\/p>\n\n\n\n
Taper talks had an immediate impact on the zero-yielding yellow metal, which remains relatively supported by inflation fears.<\/p>\n\n\n\n
Gold futures for August delivery settled at $1,799.7 per ounce, falling by about 0.01%.<\/p>\n\n\n\n
Spot gold is currently trading higher for the day by about 0.50% at $1,808.98 per ounce.<\/p>\n\n\n\n
The Fed has decided to maintain interest rates unchanged at a range between 0% and 0.25%.<\/p>\n\n\n\n
The Fed will also continue to increase its holdings of Treasury securities by $80 billion per month and mortgage-backed securities by $40 billion per month, a total of $120 billion a month, but could soon begin cutting mortgage-backed securities purchases before it begins scaling back Treasury and at a relatively faster pace, according to the Fed Chair Jerome Powell.<\/p>\n\n\n\n
Powell\u2019s remarks came during the press conference that followed the conclusion of the two-day meeting by the Federal Reserve Open Market Committee (FOMC) and the release of the policy statement.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices finished Wednesday down ahead of the U.S. Federal Reserve rate decision and moved lower after the release of the Fed\u2019s policy statement amid a brief rise for the U.S. Dollar (USD). Taper talks had an immediate impact on the zero-yielding yellow metal, which remains relatively supported by inflation fears. Gold futures for August …<\/p>\n","protected":false},"author":10,"featured_media":39127,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6874],"class_list":["post-48851","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/48851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=48851"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/48851\/revisions"}],"predecessor-version":[{"id":48852,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/48851\/revisions\/48852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/39127"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=48851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=48851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=48851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}